NEW YORK – Woodworking tool company General Tools & Instruments has been acquired by High Road Capital Partners, a private equity firm. Terms of the transaction, which was finalized February 5, were not disclosed.
New York-based General Tools & Instruments offers hand tools and testing equipment, including wood moisture meters, temperature monitors and jigs. Products are sold through woodworking distributors and big-box retailers.
High Road Capital Partners said this is the company's third platform acquisition. “General Tools & Instruments is a third-generation, family-run company with an enviable customer base, a trusted brand name and high-quality products," Jeff Goodrich, High Road Partner, said in a statement. "Together with General’s outstanding management team, we plan to pursue both organic growth initiatives and add-on acquisitions.”
General Tools & Instruments CEO Joe Ennis will continue to lead the company post-closing. He and the other members of General’s management team invested in the transaction alongside High Road.
Founded in 2007, High Road has made 27 acquisitions, including hardware and fastener firm Accurate Component Sales Inc.